Corporate Accounting Assignment (Sample)
Added on 2021-02-17
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CORPORATE ACCOUNTING
EXECUTIVE SUMMARYCorporate accounting is very useful for various activities such as amalgamation,absorption and for preparing consolidated financial statements. The present report will discussabout Retailing industry as Automotive Holdings Group and AP Eagers. It had been reflectedthat both organization are not following optimal capital structure with future perspective. Thisreport had articulated every category of cash flow statement in which operating activity arenecessary for generating cash. Further, it will be concluded that other comprehensive incomemust be considered for performance evaluation and cash tax rate and book tax rate has presenceof minor differences.
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1OWNER'S EQUITY........................................................................................................................11. Listing each item of equity with its changes from past years.................................................12. Stating debt equity position of both organization...................................................................2CASH FLOW STATEMENT..........................................................................................................53. Listing each item of cash flow statement................................................................................54. Stating comparative analysis of companies on basis of its broad categories..........................65. Stating insights with above comparative analysis...................................................................7OTHER COMPREHENSIVE INCOME STATEMENT................................................................86. Listing each item of comprehensive income statement..........................................................87. Stating reason for not including these items in income statement..........................................88. Stating comparative analysis of each item in this statement...................................................89. Other comprehensive income must be used for performance evaluation or not...................10ACCOUNTING FOR CORPORATE INCOME TAX..................................................................1110. Stating tax expense on basis of the latest financial statements...........................................1111. Calculating effective tax rate of both organization.............................................................1112. Stating comment on deferred tax liability and asset in balance sheet.................................1113. Stating change in deferred tax asset and liability in each organization..............................1214. Calculating cash tax amount with book tax and change in DTA and DTL........................1215. Calculating cash tax rate.....................................................................................................1316. Stating difference between cash tax and book tax rate.......................................................13CONCLUSION..............................................................................................................................14REFERENCES..............................................................................................................................15
INTRODUCTIONCorporate accounting is referred as special branch of accounting which is used forpreparation of financial statements. The main focus for applying accountingtechniques in acorporate sector is to prepare consolidated statements related to finance. The present report willdiscuss about the retailing industry and this will include about description of the annual reportsof Automotive Holdings Group and AP Eagers. It will articulate about owner's equity with itschanges from past years and capital structure for both organizations through comparativeanalysis. It will also state importance of other comprehensive income statements with itsalterations and items which are classified. Further, it will discuss about cash flow statement andaccounting for corporate income tax.OWNER'S EQUITY1. Listing each item of equity with its changes from past yearsAutomotive Holdings Group20152016% changein 201620162017% changein 2017Contributedequity5415325415320.00%54153265313420.61%Reserves1537266973.65%2669299712.29%Retainedearning12927515037416.32%150374131298-12.69%Totalgroupscapital andreserves6723446945753.31%69457578742913.37%Non-Controllinginterest23299249286.99%2492814914-40.17%Total Equity6956437195033.43%71950380234311.51%Interpretation: Owner's equity is very important for each business entity. The above tableis signifying every element of total equity with its differences from past years. It consists ofreserves, contributed equity and retained earnings and along with this, non-controlling interest1
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